Marketing Concepts Conts.

Distinctions between the Sales Concept and the Marketing Concept
1. The sales concept focuses on the needs of the seller. The marketing concept focuses on the needs of the buyer.

2. The sales concept is preoccupied with the seller’s need to convert his/her product into cash. The marketing concept is preoccupied with the idea of satisfying the needs of the customers by means of the product as a solution to the customers’ problem (needs).
The marketing concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage. This philosophy is the foundation of consultative selling.
The marketing concept has evolved into a fifth and more refined company orientation: the societal marketing concept. This concept is more theoretical and will undoubtedly influence future forms of marketing and selling approaches.
5. Societal marketing concept: It is the concept that assumes that when a company is making marketing dcisions, she would put into consideration the societal long-term interest. OR This concept assumes that companies would take into consideration the need of the society where it operates in while making business decisions. The societal marketing concept embodies a higher and more enlightened plane of marketing thought and practice. The concept has an emphasis on social responsibility and suggests that for a company to only focus on exchange relationship with customers might not be in order to sustain long-term success. Rather, a marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and the society’s well-being. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. They must balance and juggle the often conflicting criteria of company profits, consumer’s want, satisfaction and public interest.
Most companies recognise that socially responsible activities improve their image among customers, stockholders, the financial community, and other relevant publics. Ethical and socially responsible practices are simply good business, resulting not only in favorable image, but ultimately also in increased sales.
6. The consumer orientation approach: Modern marketing concept is a concep that embraces understanding tha marketing activities are consumer oriented. This concept is very popul because the marketing activities of the concept are built on assumptions and application of thought as follows:
(i) More customers know what they need.
(ii) Orientation to customer needs as the main target for the success of marketing activities.
(iii) Marketing research helps in determining customer needs exactly.
(iv) Satisfied customers will appreciate the producers with a repeat purchase.
(v) The difference bidding which is competitive is important for customers in identifying products of interest.
In such marketing concept, a customer is seen as part of a changing environment, marketing activities executed to drive business with variety mix of activities based on the principle below: 1. Process management-marketers to recognise, anticipate and satisfy customer profitably.
2. The fundamental activities of policy making that focuses on the selection and development of products best suited for the sales, promotion and distribution to achieve optimum results.
The following are the levels of relationship building with consumers: lationship
1. Basic marketing: The seller is just selling the product.
2. Reactive marketing: The sellers sell the product and convince customers to call if they have any questions, comments or complaints.
3. Accountable marketing: Sellers calling customers to find out whether the product meets their expectations and to ask customers about the proposed improvement of the product.
4. Proactive marketing: Seller contact customers from time to time with suggestions about the benefits of the products which have been developed.
5. Partnership marketing: The company works continuously to help improve performance for its customers. Companies that operate on the basis of partnership with customers through specialisation which is supported by the database and develop interactive communication with consumers, it is believed by experts and practitioners of marketing, will be able to easily establish and strengthen customer loyalty.
6. Profit orientation: This concept gives recognition to the basic objectives of any business firm which is to maximise profit and increase the shareholders return on investment within constraint imposed by competitors, government and public opinion. Many marketing decisions are made without any reference to return on investment. It is important for marketing managers to have profit orientation when taking their marketing decisions.

1. Define marketing concept.
2. Explain the following marketing concept
(a) Product concept
(b) Production concept
(c) Selling concept
(d) Marketing concept
(e) Profit orientation
3. Differentiate between sales concept and marketing concept.
4. Explain in detail marketing concept. (WASSCE June, 2016).
5. Explain the following concepts in marketing: (1) product concept (ii) selling concept (iii) production concept (iv) societal marketing concept.

For more class notes, homework help, exam practice, download our App HERE

Join Telegram Community for exclusive content and support HERE

1 thought on “Marketing Concepts Conts.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Don`t copy text!